Securities transaction tax increase raises levy rates on option premiums and futures trade prices for sales of those instruments. The Bill amends section 98 in Chapter VII of the Finance (No.2) Act, 2004 by substituting higher securities transaction tax rates in the Table for sale of an option in securities-applied to the option premium-and for sale of a futures in securities-applied to the price at which futures are traded; the amendment takes effect from the stated commencement date.
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Securities transaction tax increase raises levy rates on option premiums and futures trade prices for sales of those instruments.
The Bill amends section 98 in Chapter VII of the Finance (No.2) Act, 2004 by substituting higher securities transaction tax rates in the Table for sale of an option in securities-applied to the option premium-and for sale of a futures in securities-applied to the price at which futures are traded; the amendment takes effect from the stated commencement date.
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